Mayo TD slams ESB over €3 billion profit ahead of price rise

The ESB reported after-tax profits of €2.9 billion between 2022 and 2025, according to new figures released to Aontú TD Paul Lawless.

The figures come as Electric Ireland, the retail arm of the ESB, prepares to increase electricity prices by 8 per cent tomorrow.

Deputy Lawless said it was "scandalous" that a semi-state body was recording such profits while more than 300,000 people across the country are in arrears on their electricity bills.

"It is scandalous that a semi-state body like ESB is making such savage profits, while we have over 300,000 people in arrears on their electricity bills at the moment across the country," he said.

"Tomorrow Electric Ireland - the retail arm of the ESB - is hiking electricity prices by 8 per cent. We know that data centres are paying much less for electricity connection charges and per unit of electricity than regular households. This is wrong."

Deputy Lawless confirmed Aontú will bring a motion before the Dáil tomorrow seeking to reduce ESB's profits to zero, a move he said would save every household €300 a year.

"ESB is a semi-state body - they should be making enough money to invest and cover its costs, but there is no reason why it should be making such savage profits," he concluded.